> Central Banks > More from Fed's Bostic: There is no expectation of needing to rise rates any further Central Banks Atlanta Fed President Bostic <!--> --> <!--> --> This is a hard judgment call.There is no expectation of needing to rise rates...
AUDUSD shifts short term bias back higher with daily MAs looming to the topside
The AUDUSD is trading within a range over the last two weeks between 0.6594 to 0.67057. That's not a big range. The ups and downs have allowed for the 100/200 hour MAs to center near the middle of that range between 0.6651 and 0.6661. Earlier today, the price fell...
Atlanta Fed GDPNow see Q2 growth at 2.3% up from 2.1%
Atlanta Fed GDPNow estimateThe Atlanta Fed GDPNow estimate for Q2 growth seen at 2.3% in their latest estimate. That is up from 2.1% on July 6. In their own words:The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of...
More from Feds Mester: There is no decision yet on the need for July rate hike
There's no decision yet on the need for a July rate hike, more data is needed.The outlook for the terminal federal funds rate matches, or is just above, June's median forecast.Housing inflation is expected to ease, but it's still an upside rise for price...
GBPUSD erases all the declines. New high for the day.
GBPUSD retraces all of the day's declines.The GBPUSD has now reached a new high for the day, fully erasing the decline from the Asian session high at 1.28408. The price just reached 1.28439. The highs from June and July at 1.2848 is the next target. Above that and the...
Feds Bostic: inflation is too high, not sustainable
Federal Reserve Bank of Atlanta President Raphael BosticIn many regards, US is still in a pandemic economyA lot of the strength is due to pandemic support.Inflation is too high, not sustainable.Current inflation is not due to excessive risk-taking, but the pandemic...
Major European indices close higher on the day
The major European indices closed higher on the day. A snapshot of the closing levels shows:German DAX, +0.45%Frances CAC, +0.45%UK's FTSE 100, +0.23%Spain's Ibex, +0.04%Italy's FTSE MIB, +0.28%in other markets as European traders look to exit:crude oil is down $0.18...
EURUSD extends above swing area high at 1.09759
EURUSD moves above swing area. Stay above is bullish.The EURUSD is trading to a new session high as European traders look to exit for the day. The price has now moved above a swing area between 1.09618 and 1.09759 (see red numbered circles). That swing area has been...
A nice bounce in the GBPUSD. Retracing the declines of the day.
The GBPUSD move down to test its 100 hour moving average 1.27456. See the video below:The low price reached 1.2749 and found willing buyers against that moving average level. A swing area was also entered between 1.2738 and 1.2759. Buyers leaned against support (see...
BOE’s Bailey: UK inflation is unacceptably high, but expected to decrease significantly
The current preoccupation is inflation.Inflation is unacceptably high.The aim is to bring inflation down to the 2% target.Headline inflation is expected to decrease significantly over the rest of the year.Enhanced digitalization should not be used significantly to...
Feds Daly: US economic momentum continues to surprise
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Feds Mester: Fed will need to tighten somewhat further to lower inflation
> Central Banks > Feds Mester: Fed will need to tighten somewhat further to lower inflation Central Banks Cleveland Fed Pres. Loretta Mester speaking <!--> --> <!--> --> Fed will need to tighten somewhat further to lower inflationFed policy...
New York Fed one year ahead expected inflation at the lowest level since April 2021
> Central Banks > New York Fed one year ahead expected inflation at the lowest level since April 2021 Central Banks New York Fed inflation for June <!--> --> <!--> --> One year ahead inflation at 3.8% in June versus 4.1% in May. The lowest...
Feds Barr: Inflation is far too high
Fed's Barr spoke earlier about banking regulation and is now making comments about the economy:Inflation is far too highWe are quite attentive to bringing inflation down to target.We have made a lot of progress on inflation.Recent moves on rates are part of the...
USDCAD tests 200 hour MA at 1.3270. Barometer for buyers and sellers.
The USDCAD is down testing the 200 are moving average of 1.3270.USDCAD tests the 200 hour MALooking at the hourly chart, the USDCAD pair last moved below that moving average on Tuesday of last week, but momentum stalled and the price rotated back to the upside.On...
Fed’s Barr: Plans to propose several changes to bank capital rules
Fed's Barr (who is in charge of banking supervision at the Fed) is on the wires speaking about regulationThe existing capital framework is sound, but there are plans to build on those requirements.In the coming months, plans to propose several changes to bank capital...
US employment trends for June 114.31 versus 116.15 last month
> US employment trends for June 114.31 versus 116.15 last month US employment trends for June 2023 <!--> --> <!--> Prior month 116.15 revised to 115.53US employment trends for June 2023 comes in at 114.31 ADVERTISEMENT - CONTINUE READING BELOW -->...
US wholesale inventories for May 0.0% versus -0.1% expected
> US wholesale inventories for May 0.0% versus -0.1% expected Wholesale inventories and wholesale sales for May 2023 <!--> --> <!--> Prior month inventories -0.1%wholesale inventories 0.0% versus -0.1% expectedwholesale sales -0.2% versus 0.2%...
Major US stock indices modestly higher in early US trading
The major US stock indices are trading modestly higher in early US trading. The Dow industrial average is leading the way with a gain of around 0.27%. The NASDAQ index is trading above and below unchanged. A snapshot of the market 6 minutes into the open is...
Mannheim June used car price index falls by 4.2%.
Mannheim used vehicle value indexThe Mannheim June used-vehicle price index drops:Wholesale used-vehicle prices decreased 4.2% in June from May, making the Manheim Used Vehicle Value Index (MUVVI) decline to 215.1, down 10.3% from a year ago.The 4.2% drop in the MUVVI...